Wave counting analysis:
On Wednesday, January 2, trading ended for EUR / USD by 105 bpts. However, taking into account the specificity and ambiguity of the entire trend section, which originated as early as December 13, the proposed wave can take an even more complex form and continue its construction with targets located near the 50.0% level on the older Fibonacci grid. At the same time, the internal wave structure of this wave already looks quite complicated now, and the correctional status of the entire trend section leads to frequent correctional waves.
Sales targets:
1.1315 - 23.6% Fibonacci
1.1266 - 0.0% Fibonacci
Shopping goals:
1.1528 - 127.2% Fibonacci
1.1599 - 161.8% Fibonacci
General conclusions and trading recommendations:
The pair continues to build a wave and the entire portion of the trend, taking its beginning on November 13. Thus, now I recommend buying in small volumes (due to the ambiguity of the current wave marking) with targets located near the marks of 1.1528 and 1.1599. Yesterday's fall makes current levels attractive for purchases. At the same time, I once again pay attention to the correctional status of the trend section, which leads to frequent and strong internal correctional waves.
The material has been provided by InstaForex Company -
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